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Petrol Price in New Delhi (19th December 2018)

Petrol prices in New Delhi have been turning more volatile, as prices of crude oil have been showing a firm trend. It is important to check todays petrol price in New Delhi (₹70.63), especially if you are going for a long drive. Remember, petrol and diesel prices are revised daily, so you can lose much, if you are travelling on a long distance. The rupee has also moved lower against the dollar, which has made petrol prices in New Delhi more expensive than before. It is hoped that the government can reduce excise duties, so as to enable rates to become more cheaper in the coming days.

Dec 19, 2018
₹ 70.63 /Ltr

Last 10 Days Petrol Rate in New Delhi

Date Price Price Change
Dec 18, 2018 ₹ 70.63 ₹ 0.10
Dec 17, 2018 ₹ 70.53 ₹ 0.19
Dec 16, 2018 ₹ 70.34 ₹ 0.00
Dec 15, 2018 ₹ 70.34 ₹ 0.05
Dec 14, 2018 ₹ 70.29 ₹ 0.00
Dec 13, 2018 ₹ 70.29 ₹ 0.09
Dec 12, 2018 ₹ 70.20 ₹ 0.00
Dec 11, 2018 ₹ 70.20 ₹ -0.11
Dec 10, 2018 ₹ 70.31 ₹ -0.24
Dec 9, 2018 ₹ 70.55 ₹ -0.15

Daily & Monthly Petrol Price in New Delhi : Graphical Representation

Historical Petrol Price in New Delhi

  • Trend of Petrol Rate in New Delhi, December 2018
  • Petrol Price
    1st December Rs.72.53
    19th December Rs.70.63
    Highest rate in December Rs.72.53 on December 1st
    Lowest Rate in December Rs.70.20 on December 11th
    Over all performance Falling
    % Change -2.69%
  • Trend of Petrol Rate in New Delhi, November 2018
  • Trend of Petrol Rate in New Delhi, October 2018
  • Trend of Petrol Rate in New Delhi, September 2018
  • Trend of Petrol Rate in New Delhi, August 2018
  • Trend of Petrol Rate in New Delhi, July 2018
  • Trend of Petrol Rate in New Delhi, June 2018

Petrol prices in Delhi are now changing everyday, as against every 15 days before. We are providing daily petrol price rates, so you can check the same on goodreturns.in

The advantage of doing that is you know when to fill petrol and make maximum use of falling petrol prices. In any case Delhi petrol rates are much lower then some of the other cities in India. It also sets the trend for an increase or decrease in rates in various other cities of India. The rates would be largely determined by the largest oil marketing companies in India, that is Indian Oil, Bharat Petrolem and Hindustan Petroleum. You would do well to check the rates given the fact that if you fill same about 30 to 40 litres petrol you could tend to lose a lot. Now that petrol prices in Delhi have been dergulated like many other cities in the country.

How are petrol prices in Delhi determined?

Petrol rates in Delhi largely depend on how international prices of crude oil move. It is largely linked to international crude prices, which trade abroad. There is also an India crude basket, which largely determines the prices of Petrol in Delhi. It is always advisable to check the petrol prices, if you are planning to fill your automobile to the brim. A small change in rates can be mean a lot when you have larger volumes of diesel or petrol to fill. Diesel prices in Delhi also more or less move in a smilar way.

Increasing trend in the last few days

Lately, we have been seeing an increasing trend of petrol prices rallying in several cities. In fact, in places like Delhi they have now hit the Rs 72 per litre mark. This has happened as international prices of crude have gone higher and there is every possibility that there could be a further increase in prices.

The government has in the past cut the excise on petrol to make-up for the huge gains seen in the prices of petrol. However, any such cuts in the excise tends to impact the government's fiscal deficit.

If the trend of an increase in Delhi prices of petrol today continues, we may soon realize that rates have now hit a three year high and this is not good news for any government.

An urgent cut in the prices of the fuel is needed to be implemented by the government at the earliest.

How petrol prices are influenced in Delhi?

Todays petrol prices in New Delhi are a result of a host of a factors that influence rates. Among these include world prices of the fuel. At the moment Brent Crude prices are trading at $64. When these prices go higher, the India crude basket goes higher, which in turn alters the daily price of petrol in Delhi. A similar thing can be seen as far as diesel is concerned. 

It is hence a good idea to check prices of the fuel before leaving your home. For the last few days there has been a declining trend at the retail level. Once petrol and diesel prices are bought under the ambit of the Goods and Services Tax, we may see these prices declining in the coming days. In the meantime, we would have to continue to pay the desired sum and wait for a fall in todays petrol rates in New Delhi.  

 How Petrol Prices in New Delhi Today are calculated?

Fuel rates in India depend on a host of things. Petrol prices in Delhi today depend on the India crude basket, transportation costs, value added taxes and excise duty levied by the government.

The fuel costs in the city are pretty high, though they are way lesser than what Mumbai charges. The city has one of the highest value added taxes, which has pushed petrol prices higher.

In India, when excise by the government is hiked, petrol prices in Delhi tend to increase. At the moment, excise is slightly more than Rs 21. The local government also tends to tinker with the value added tax, which tends to inflate the fuel rates.

The currency also plays a big role, in pushing the price of petrol and diesel either way. If rates tend to move in one direction heavily, the government can cut or hike rates accordingly.

 Overall, it is likely that we will see sharp cuts in the prices of the fuel in the coming days. International prices have the biggest bearing and any drop in these tend to help rates cuts. Movement of the rupee against the dollar also tends to impact petrol and diesel prices accordingly.

So, for calculation of todays petrol price in Delhi one has to taken into account, excise, value added tax, India crude basket and currency movement. 

 

Petrol Rates in New Delhi Remains Steady

The prices of petrol in New Delhi stood still despite a dip in global crude rates owing to its abundant supply. The petrol rates in New Delhi was recorded at Rs 70.63 per litre.

The crude prices fell in the global scenario amid a glut in the oil industry. The United States of America’s crude stock rose up by 3.5 million barrels per day (bpd) to touch 441.3 bpd. The global fall in crude prices has deteriorated investor’s confidence in the oil stocks. The crude prices slipped by more than 5 percent during yesterday’s trade session and Brent was seen trading at $56.58 per barrel and WTI was at $46.80 per barrel.

Meanwhile, the fall in global crude prices helped the Indian domestic rupee to gain against the dollar and the rupee was seen trading at 70.17 mark during today’s trade session. The decline in crude rates helps the current account deficit of India to plunge further.

19 December 2018
Petrol Rates in New Delhi Inches Up By 10 Paise Per Litre

The petrol prices in New Delhi rose up despite fall in global crude prices due to a crude supply glut. The petrol rates in New Delhi stood at Rs 70.63 per litre, up by 10 paise.

In the global scenario, the crude is abundantly available as the United States of America is producing a record shale output and this has created concerns related to an oversupply of crude which in turn will dip the crude prices. The Brent, which is a benchmark for crude is at $58.62 per barrel, down by 1.66% and WTI, was seen trading at $49.32 per barrel, down by 1.75%.

The U.S. is currently producing more oil in order to provide sufficient supply of crude to the oil industry and accordingly the U.S. storage hub of Cushing which is the delivery point for West Texas Intermediate is producing more crude and currently it is up by more than 1 million barrels between December 11 – December 14.

The Indian rupee gained against the dollar during today’s trade session and was seen trading at 71.19 mark. The fall in global crude prices helped the domestic Indian rupee to march up.

18 December 2018
Petrol Rates in New Delhi Rises By 19 Paise

The petrol rates in New Delhi gained marginally owing to the rise in global crude prices. The petrol prices in New Delhi were recorded at Rs 70.53 per litre, up by 19 paise.

The crude prices in the global market rose up during today’s trade session despite depreciating by 2 percent during the previous session as it is currently under pressure owing to weak growth and concerns over the abundant supply. Brent was seen trading at $60.28 per barrel and WTI was at $51.32 per barrel.

Analysts believe that the continuous production of crude will help to weigh down on its prices amid a cut in crude supply by the OPEC member countries starting from January 2019.

The weak growth in most of the economies including China and Europe added with the dampened demand for crude has slowed down the global economic growth to a major extent.

17 December 2018
Petrol Rates in New Delhi Rises Up By 5 Paise Per Litre

The petrol prices in New Delhi rose up slightly despite fall in the international market owing to surplus supply. The petrol rates in New Delhi stood at Rs 70.34 per litre, up by 5 paise.

The crude prices dipped slightly in the global market and Brent was seen trading at $60.28 per barrel, down by 1.90% and WTI was at $51.20 per barrel, down by 2.62%.

The rise in crude production by Venezuela is likely to slow a free fall in Venezuela’s output which witnessed a drop in the production output to the lowest level since the last 70 years.

Meanwhile, the fall in the Indian rupee against the dollar has made the dollar priced crude expensive and today rupee was seen at 71.92 mark.

15 December 2018
Petrol Prices in New Delhi Remains Constant At Rs 70.20 Per Litre

The petrol prices in New Delhi was constant despite the depreciation of crude prices in the global markets. The petrol rates in New Delhi was recorded at Rs 70.29 per litre.

The prices of crude eased today after edging over 2 percent during yesterday’s session. Analysts predict that the market is likely to tighten further during the second quarter of 2019 as the OPEC member countries along with its non – OPEC member has decided to cut down crude supply starting from January 2019. The oil major – Saudi Arabia is all set to trim down 10.2 million barrels per day (bpd) of crude supply to the oil market.

The crude oil benchmark – Brent was seen trading at $61.07 per barrel, down by 0.62% and WTI by $52.35 per barrel, down by 0.44%.

Meanwhile, the Indian rupee gained during today’s session against the U.S. dollar and was seen at 71.80 mark. The rupee gained after the government of India appointed Shaktikanta Das as the RBI Governor after the shocking exit of Urijit Patel before the completion of his tenure. The new governor is likely to tackle the issues promptly and swiftly which is currently haunting the banking sector in India.

14 December 2018
Petrol Prices in New Delhi Remains Flat

The petrol prices in New Delhi stood flat despite the crude prices gaining an edge in the global markets. The petrol rates in New Delhi stood at Rs 70.20 per litre.

In the global scenario, the crude prices rose up as the OPEC member countries along with the non – OPEC member partner decided to trim down the crude supply with effect from January 2019. The fall in the crude supply has helped its prices to surge up in the international market.

Brent was seen trading at $60.97 per barrel, up by 1.28% and WTI was at $52.31 per barrel, up by 1.28%.

The U.S. President, Donald Trump stated that the country is in talks with China to defuse the trade tariff war which dwindled the global economic growth rate and shook the developing countries economies.

In India, the domestic rupee tumbled again against the dollar during today’s trade session and was seen at 72.04 mark. The RBI Chief’s sudden exit followed by yesterday’s poll results weakened the rupee further during today’s trading session. The weak rupee makes dollar-priced crude costlier.

12 December 2018
Petrol Prices in New Delhi Declines By 11 Paise

The petrol prices in New Delhi were down amid the fall in global crude rates amid the sudden exit of the RBI Chief, Urjit Patel. The petrol rates in New Delhi were seen at Rs 70.20 per litre, down by 11 paise.

In the global market, the crude prices dipped due to the weak market as the OPEC member countries have decided to cut the supply of crude to the market by 1.2 million barrels per day (bpd) starting from January 2019. Brent was seen trading at $59.89 per barrel and WTI was at $50.98 per barrel.

The likely cut in the oil supply to the industry has raised concerns over the future prices of crude in the oil industry.

In India, the sudden exit of the RBI Governor – Urjit Patel, has led to the fall in the rupee value against the dollar and was seen trading at 71.98 mark. The fall in the rupee against the dollar makes the crude purchase costlier for India and this will eventually impact the current account deficit of India.

11 December 2018
Petrol Prices in New Delhi Inches Down Amid Depreciating Rupee

The petrol prices in New Delhi declined further in spite of a cut in oil output by the OPEC countries along with its partners. The petrol rates in New Delhi were seen at Rs 70.31 per litre, down by 24 paise.

The crude prices in the international market are picking up on a regular basis after the OPEC member countries decided to cut down on the crude production and supply to the market after witnessing surplus supply. WTI was seen at $52.49 per barrel and Brent was seen at $61.98 per barrel.

The cut in global crude supply is likely to come into effect from January and accordingly, Russia is likely to trim down 1.2 million barrels per day (bpd), OPEC member countries will cut 8,00,000 bpd and other countries who are not affiliated with the group will trim 4,00,000 bpd of crude.

The Indian domestic rupee dipped by further 52 paise to settle at 71.32 per dollar against the previous close of 70.80 mark. The rise in the global crude prices added with the rise in current account deficit led to the fall in the rupee value against the dollar.

10 December 2018
Petrol Rates in New Delhi Dips By 22 Paise

The petrol prices in New Delhi were trimmed despite the rise in the global crude prices owing to cut in oil supply by OPEC member countries which will come into effect in the coming days. The petrol rates in New Delhi were at Rs 70.70 per litre, down by 22 paise.

The crude benchmark, Brent which earlier was on the declining mode rose up by more than 2% during today’s trade session after the OPEC member countries agreed to cut the crude supply owing to surplus availability of fuel in the market. The Brent crude was seen trading at $61.67 per barrel, up by 2.68% and WTI was at $52.61 per barrel, up by 2.18%.

The two days OPEC meet which centred around trimming the crude supply has finally concluded on a positive note to slash oil output by more than what the market had expected despite continuous pressure from the U.S. President, Donald Trump who is pushing for keeping crude prices low by pumping more crude to the market. Accordingly, the crude producers will cut down an output of 0.8 million barrels per day (bpd) starting from January 2019.

The Indian rupee depreciated further against the U.S. dollar and was seen trading at 71.38 mark. The fall in rupee value will make crude purchases costly as crude is measured in terms of dollars.

8 December 2018
Petrol Rates in New Delhi Declines By 40 Paise

The petrol prices in New Delhi declined further amid the fall in global crude prices owing to delay in OPEC member countries decision to cut down crude supply. The petrol rates in New Delhi stood at Rs 70.92 per litre, down by 40 paise.

Yesterday’s OPEC meet did not decide on the decision related to the trimming of crude supply and has instead decided to take up the matter during today’s meet. Russia remains the sticking point noted one of the analysts who is familiar with the matter. Most of the experts believe that the supply reduction decision will likely to be arrived at today. This led to the fall in global crude prices during today’s trade session.

Brent was seen trading at $59.41 per barrel, down by 1.08% and WTI was at $50.94 per barrel, down by 1.07%.

The Indian rupee opened 34 paise up to touch 70.56 mark against the U.S. dollar during today’s trade session.

7 December 2018

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